Wells Fargo analysts downgrade WellCare Health Plans

Research analysts at Wells Fargo & Co. have downgraded WellCare Health Plans' rating from "outperform" to "market perform," according to a WKRB report.

WellCare posted its quarterly earnings today, reporting $0.07 earnings per share for the quarter, falling short of the consensus estimate of $0.90 by $0.97. WellCare shares opened at $76.85 today, and the stock's 50-day moving average is $75.60, according to the report.

WellCare provides managed care services to government-sponsored healthcare programs, with a focus on Medicare and Medicaid.

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